Showing posts with label Doug McMillon. Show all posts
Showing posts with label Doug McMillon. Show all posts

Wednesday, September 4, 2019

Walmart to limit ammunition sales after mass shooting in Texas store


NEW YORK - Walmart will halt sales of ammunition for handguns and some military-style rifles, the company announced Tuesday, calling the status quo on firearms in the United States "unacceptable."

Walmart also said it would direct consumers not to carry firearms into its stores, a practice that is legal in "open carry" states but which has sparked safety scares in recent weeks.

The moves, which were praised by gun control advocates and ridiculed by gun rights supporters, came a month after a deadly shooting at an El Paso, Texas store claimed 22 lives, a calamity that has been followed by subsequent attacks, including another shooting over the weekend in West Texas that left seven dead.

Chief Executive Doug McMillon called on Congress and the White House to enact "common sense" measures, including stronger background checks for gun purchases, while signaling the retail giant still plans to sell sporting rifles.

"As we've seen before, these horrific events occur and then the spotlight fades. We should not allow that to happen," McMillon said in a statement.

"Congress and the administration should act."

The actions stop well short of the outright ban on gun sales that some gun control advocates called for but are still significant given Walmart's size and prominence in many communities in the United States and its influence in corporate America. 

Later Tuesday, Kroger, the biggest US supermarket chain, called for strengthened background checks and announced it was "respectfully asking that customers no longer openly carry firearms into our stores, other than authorized law enforcement officers."

BOYCOTT? 

The world's biggest retailer, Arkansas-based Walmart has more than 4,700 stores across America, many in conservative regions where political opposition to gun control is strong. 

The hashtag #boycottwalmart was trending Tuesday afternoon on Twitter and the move drew a strident response from the National Rifle Association.

"It is shameful to see Walmart succumb to the pressure of the anti-gun elites," the NRA said. "Lines at Walmart will soon be replaced by lines at other retailers who are more supportive of America's fundamental freedoms."

On the other side, Everytown for Gun Safety praised Walmart for a "significant step forward."

Several Democratic presidential candidates also praised Walmart, while calling for more action, drawing further distinction from US President Donald Trump who has backed off efforts to tighten background checks.

Democratic presidential candidate Beto O'Rourke, who previously represented El Paso in Congress, called Walmart's move a "step in the right direction," adding, "we can't rely on corporations to stop gun violence. We need universal background checks, we need red flag laws, and we need to buy back every single assault weapon."

Walmart expects the changes to lower its market share for ammunition from around 20 percent to a range of 6 to 9 percent.

The company will also no longer sell ammunition for short-barrel rifles, which can be used for hunting but also in military-style weapons.

The company will still sell long-barrel deer rifles and shotguns and much of the ammunition they use, leaving its stores "even more focused on the needs of hunting and sport shooting enthusiasts," McMillon said.

NO MORE 'OPEN CARRY' 

Walmart also unveiled new policies restricting firearms in stores, citing a number of incidents in which shoppers have fled stores after members of the public brandished such weapons in "open carry" states. 

In one well-publicized incident last month just days after the El Paso shooting, a man in Missouri was arrested after entering a Walmart wearing body armor and carrying a loaded military-style rifle.

"We believe the opportunity for someone to misinterpret a situation, even in open carry states, could lead to tragic results," McMillon said. "We hope that everyone will understand the circumstances that led to this new policy and will respect the concerns of their fellow shoppers and our associates."

The moves announced Tuesday followed earlier actions by Walmart to restrict access to some weapons, including a decision in 1993 to halt handgun sales in all states but Alaska and in 2015 to end sales of semiautomatic weapons of the sort used in mass shootings. 

On Tuesday, Walmart said it was also ending sales of handguns in Alaska.

McMillon noted he is a gun owner himself, adding "we understand that heritage, our deeply rooted place in America and our influence as the world's largest retailer. And we understand the responsibility that comes with it."

source: news.abs-cbn.com

Wednesday, May 9, 2018

Walmart buys 77 pct stake in India's Flipkart for $16-B


BANGALORE - US retail behemoth Walmart said Wednesday it will buy a 77 percent stake in Indian online sales giant Flipkart for $16 billion in the world's biggest e-commerce deal.

The blockbuster takeover threatens a major blow to rival Amazon's ambitions in India. Flipkart and Amazon have been going head-to-head in a costly battle for domination of one of the fastest growing online retail markets since 2013.

The deal, announced in a joint statement, values Flipkart, India's largest e-tailer on the basis of sales, at just over $20 billion.

"India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market," Walmart president Doug McMillon said.

The announcement ended months of speculation that Walmart, the world's biggest retailer, was preparing to take over Flipkart. Both had repeatedly declined to comment on the talks.

Walmart said it would pump $2 billion into Flipkart, giving the Indian e-tailer a bigger war chest to fight off a huge challenge from Amazon, which is rapidly expanding its reach.

Binny Bansal, Flipkart's co-founder and group chief executive officer, said the deal "is of immense importance for India and will help fuel our ambition to deepen our connection with buyers and sellers and to create the next wave of retail in India".

Masayoshi Son, the CEO of Japan's SoftBank, had earlier confirmed to reporters in Tokyo that the deal had been agreed.

He said SoftBank's $2.5 billion stake in the company would be worth $4 billion with the acquisition.

Amazon has expanded aggressively since it entered the Indian market in 2013.

Boss Jeff Bezos has committed more than $5 billion to grabbing a big slice of India's e-commerce pie after failing to make inroads in China.

E-commerce sales in India hit $21 billion last year according to market research company Forrester, and are expected to soar as its population of 1.25 billion people make greater use of internet access.

Flipkart was founded in 2007 by former Amazon employees Sachin Bansal and Binny Bansal, who are not related.

Like Amazon, it started as an online bookstore. Flipkart now sells everything from mobile phones, televisions and juicers to running shoes, sofas and beauty products.

source: news.abs-cbn.com